Here’s Why You Shouldn’t Check Your Portfolio Right Now

Market downdrafts tempt people to adjust their investments, but that’s not always a wise choice

If you logged on to your brokerage account today and wish you hadn’t, you’re not alone.

BlackRock Chief Executive Larry Fink said Monday the asset manager hasn’t received this many client calls since March 2020, when the pandemic was beginning.

Retail brokerages including Fidelity Investments had technical glitches Monday morning as traffic surged from people trying to check their portfolios and place trades.

Studies have found that the more people look at their 401(k)s, the lower their long-term returns are likely to be.

The S&P 500 drops on almost half of trading days, so checking your portfolio more often means you are more likely to see losses. And there have been lots of losses since President Trump rolled out a series of tariffs last week.

In just two trading days last week, the average 401(k) lost 7% of its value, according to Alight Solutions , which tracks employer retirement plans. Individual investors moved money out of stock-heavy target-date funds and into the relative safety of bonds and cash.

That’s understandable, but not necessarily wise. Here are some things financial advisers say to keep in mind right now:

Be realistic

Now that the S&P 500 is down almost 20% from its peak, many people are realizing that their risk tolerance isn’t as high as they thought it was when markets were up 20%, said Chelsea Ransom-Cooper, chief financial planning officer at Zenith Wealth Partners in New York.

“It’s a great time to level-set and reflect on what you’re comfortable with,” she said. However, if you decide to make changes, you should tweak a little at a time to avoid making emotional decisions you regret later, she said.

Sell strategically

In general, you should avoid the impulse to sell when the value of your investments falls, said Martin Lowenthal, financial adviser in Needham, Mass.

He has been telling his clients to stay the course and advising that they pull money from alternative sources such as life insurance plans if they need liquidity in the short-term.

“You shouldn’t be drawing from depressed assets if you have other places to go for income,” he said.

However, falling stock prices can create opportunities to save on taxes. If you find yourself with stocks or funds that are worth less than what you paid for them, you may be able to recognize the losses for tax purposes. Selling at a loss and reinvesting the money can help offset taxes on future capital gains while remaining invested in the market.

Buy cautiously

There may be reasons to add to investments, financial advisers say, especially if you have been sitting on cash. Cash losses value to inflation, which is expected to rise as companies digest new tariffs.

With markets starting to price in rate cuts , now might be a good time to lock in returns with fixed-rate products such as certificates of deposits or bonds, Ransom-Cooper said.

If you are younger and have a longer investment horizon, you can consider making small investments into the stock market at regular time intervals to take advantage of a potential rebound while managing risk.

“If you are concerned about inflation, you want to make sure that your money is at least trying to keep up,” she said.

Do nothing

This isn’t the first time the market has tested investors’ stomach for risk, and history says it won’t be the last. There was the financial crisis, then there was the pandemic, and “this time, it’s the tariff tantrum,” Lowenthal said.

“I’ve got full faith in the American economy to ride this out,” he said.

Private-equity firm Paine Schwartz Partners is backing BERO, a nonalcoholic beer brand launched by British actor and “Spider-Man” star Tom Holland.

A person familiar with the transaction said it values New York-based BERO at more than $100 million and will help support the brand’s ambitious growth plans.

BERO co-founder and Chief Executive John Herman said the company aims to more than double its sales team and significantly expand distribution to roughly triple sales this year.

BERO, which Holland and Herman launched in late 2024, reached nearly $10 million in sales in its first year and expects sales to reach almost $30 million this year, said Herman, who previously served as president of C4 Energy brand drink maker Nutrabolt.

“We weren’t just looking for capital,” Herman said. “We were looking for great partners that could help us grow.”

Paine Schwartz is investing through BetterCo Holdings, a portfolio company in the firm’s sixth flagship fund that it formed late last year to hold non-control investments in better-for-you food and beverage businesses, Paine Schwartz CEO Kevin Schwartz said.

Ultimately, Schwartz said he expects BetterCo to hold five to 10 investments.

BERO, BetterCo’s third investment, falls within the firm’s typical growth investment range of $10 million to $25 million, he said.

Earlier BERO backers include leading talent agency William Morris Endeavor Entertainment and venture-capital firm Imaginary Ventures, which also participated in the latest investment.

“This first external raise is not just a milestone, but a validation of what’s been achieved in a single year,” said Logan Langberg, a partner at Imaginary Ventures.

When they started BERO, Holland and Herman tapped as brewmaster Grant Wood, a past Boston Beer executive who went on to found Revolver Brewing, now part of Tilray Brands.

The brand currently offers four types of beer, including two IPAs. Its products are sold at Target stores, on Amazon.com and at other retail locations, such as supermarket chains Sprouts Farmers Market and Wegmans Food Markets in the U.S. and Morrisons in the U.K. BERO is also available at a number of liquor stores and bars and restaurants.

The company also offers a $55 a year premium membership that offers such perks as free shipping and access to member-only products and limited-edition releases.

To help build the brand’s name, BERO has struck a series of partnerships, becoming the official nonalcoholic beer partner of luxury sports-car maker Aston Martin and fitness studio chain Barry’s.

Nonalcoholic beers, which generally contain less than 0.5% of alcohol by volume, have become increasingly popular and account for the biggest share of alcohol-free drink sales, according to the Beer Institute, a national trade association.

Sales of such drinks are growing at a more than 20% annual rate and were expected to exceed $1 billion in 2025, according to market-research firm NielsenIQ, citing so-called off-premise channel sales it tracks, such as sales at liquor stores and grocery stores. But the bulk of those sales come from the top five brands, such as Athletic Brewing, co-founded by a former trader at Steve Cohen’s hedge fund Point72 Asset Management, NielsenIQ said.

Alcohol-free drinks, the market-research firm said, have emerged as a lifestyle choice—one based not on quitting alcohol but expanding options, with most non-alcohol buyers also buying alcoholic drinks.

“There’s a pendular swing in behaviours that [is] happening right now when it comes to people’s relationship with alcohol,” Herman said.

Corrections & Amplifications undefined Nonalcoholic beer brand BERO offers its fans a premium membership for $55 a year. An earlier version of this article incorrectly said the membership costs $50. (Corrected on Jan. 20.)

Here’s Why You Shouldn’t Check Your Portfolio Right Now

Market downdrafts tempt people to adjust their investments, but that’s not always a wise choice.

Be realistic

Sell strategically

Buy cautiously

Do nothing

Paine Schwartz joins BERO as a new investor as the year-old company seeks to triple sales.